First Hawaiian (NASDAQ:FHB) Coverage Initiated at Piper Sandler

Key Points

• Piper Sandler has reaffirmed a "neutral" rating for First Hawaiian (NASDAQ:FHB) with a price target of $26.00, indicating a potential upside of 5.65% from its current price.
• Multiple analysts have differing views on First Hawaiian, with ratings ranging from "underweight" to "hold"**, and a consensus rating of "Strong Sell" overall.
• First Hawaiian recently reported a quarterly earnings per share (EPS) of $0.58, exceeding expectations and reflecting a net margin of 21.45% and a return on equity of 9.29%.

Piper Sandler started coverage on shares of First Hawaiian (NASDAQ:FHB - Free Report) in a research report report published on Thursday, Marketbeat.com reports. The brokerage issued a neutral rating and a $26.00 target price on the bank's stock.

A number of other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of First Hawaiian from $25.00 to $25.50 and gave the company an "underweight" rating in a report on Tuesday, July 1st. Wall Street Zen upgraded shares of First Hawaiian from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Keefe, Bruyette & Woods decreased their price target on shares of First Hawaiian from $30.00 to $28.00 and set a "market perform" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lifted their target price on shares of First Hawaiian from $22.00 to $24.00 and gave the company an "underweight" rating in a report on Thursday, July 10th. Finally, Barclays restated an "underweight" rating on shares of First Hawaiian in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Strong Sell" and a consensus target price of $27.07.

First Hawaiian Price Performance

FHB stock traded up $0.40 during midday trading on Thursday, hitting $25.71. The stock had a trading volume of 209,912 shares, compared to its average volume of 892,934. The firm has a market cap of $3.20 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 6.19 and a beta of 0.84. First Hawaiian has a 12-month low of $20.32 and a 12-month high of $28.80. The company's 50-day moving average price is $24.89 and its 200 day moving average price is $24.48.

First Hawaiian (NASDAQ:FHB - Get Free Report) last released its earnings results on Friday, July 25th. The bank reported $0.58 EPS for the quarter, topping the consensus estimate of $0.49 by $0.09. The firm had revenue of $217.54 million during the quarter, compared to analysts' expectations of $214.67 million. First Hawaiian had a net margin of 21.45% and a return on equity of 9.29%. During the same period in the previous year, the company earned $0.48 EPS. As a group, sell-side analysts anticipate that First Hawaiian will post 1.95 EPS for the current year.

First Hawaiian Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Monday, August 18th will be issued a $0.26 dividend. The ex-dividend date is Monday, August 18th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Hawaiian's payout ratio is currently 53.61%.

Hedge Funds Weigh In On First Hawaiian

Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can raised its stake in shares of First Hawaiian by 1.7% in the 2nd quarter. Bank of Montreal Can now owns 25,258 shares of the bank's stock valued at $630,000 after purchasing an additional 422 shares in the last quarter. Voya Investment Management LLC grew its position in shares of First Hawaiian by 2.9% during the 1st quarter. Voya Investment Management LLC now owns 15,918 shares of the bank's stock valued at $389,000 after buying an additional 448 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in First Hawaiian by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 36,493 shares of the bank's stock worth $892,000 after acquiring an additional 521 shares during the period. Vanguard Personalized Indexing Management LLC raised its stake in First Hawaiian by 5.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 12,340 shares of the bank's stock worth $308,000 after acquiring an additional 672 shares during the period. Finally, Caitong International Asset Management Co. Ltd raised its stake in First Hawaiian by 199.7% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,058 shares of the bank's stock worth $26,000 after acquiring an additional 705 shares during the period. Institutional investors and hedge funds own 97.63% of the company's stock.

First Hawaiian Company Profile

First Hawaiian, Inc operates as a bank holding company for First Hawaiian Bank that provides a range of banking products and services to consumer and commercial customers in the United States. It operates in three segments: Retail Banking, Commercial Banking, and Treasury and Other. The company offers various deposit products, including checking, savings, and time deposit accounts, and other deposit accounts.